Rory Stewart who is standing in the Conservative leadership contest has warned his leadership rivals against offering “cheap electoral bribes” in a bid to win support.
Stewart said that party members are “smarter than this” and rather than honest with people his rivals have pledged an “eye watering” and “reckless” tax cuts worth a staggering £84bn.
Stewart singled out Boris Johnson, Dominic Raab, Michael Gove, Sajid Javid and Jeremy Hunt for their reckless promised tax cuts.
He said, “We simply cannot make spending and tax cut promises that we can’t keep.
“We cannot criticise Jeremy Corbyn for reckless spending pledges if we start doing the same ourselves. Cheap electoral bribes could cost us dear.”
According to Stewart campaign team Raab has pledged the largest amount so far of £38.2bn of tax cuts, including national insurance threshold to £12,500 and scrapping stamp duty on homes under £500,000 with a 5p cut in the basic rate of income tax.
Michael Gove has promised to scrap VAT and replace it with a simpler sales tax, amounting to £20bn,
Boris Johnson’s plan is to raise the 40% tax threshold from £50,000 to £80,000 this is to cost £14.1bn.
Jeremy Hunt has promised to cut corporation tax to 12.5% costing £11bn, whilst Savid Javid has muted that he could cut the top rate of tax, this was put at £700,000.
At Stewarts launch campaign on Monday he said he would never use the tax system to “give the already wealthy another tax cut.”